Co-Hosting - What are the need to knows?
Hello everyone! I'm currently working with a friend to Co-host his cabin. This will be a first time experience for me and I want to make sure that i dont cause myself any headaches. Currently I'm planning to have the listings in his name and then ill manage them using my software subscriptions etc. He will just pay me a % of the bookings. Is there anything legally I need to do in general or specifically for Colorado? Can anyone give me some newbie advice?
Thanks!
Chris
#3 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
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- Austin, TX
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#3 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
- Investor
- Austin, TX
Write up a joint venture or some kind of written agreement that shows your payout
I agree with Eliott, get with your favorite lawyer and just have him put in writing the agreement that you currently have verbally. As long as there is signed documentation between you and your partner, there should be no issue later if there was a falling out.
Good luck in your adventure! I just moved out to Colorado from Nebraska earlier this year, I hope you are staying warm!
Take Care,
